{"success":true,"data":{"pressRelease":{"id":"37005","rtpr_id":"nNFC1n8f7q","ticker":"SMY","exchange":"","all_tickers":["SMY"],"title":"Search Minerals Closes Shares for Debt Transaction","author":"Newsfile Corp","published_at":"2026-05-15T21:01:16.490Z","article_body":"St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - May 15, 2026) - Search\nMinerals Inc. (TSXV: SMY) (OTC Pink: SHCMF) (\"Search Minerals\" or the\n\"Company\") announces that, further to its news releases of February 20, 2026\nand May 6, 2026, it has completed its previously announced shares-for-debt\ntransaction (the \"Transaction\") pursuant to TSX Venture Exchange Policy 4.3\n– Shares for Debt.\n\nPursuant to the Transaction, the Company has issued an aggregate of 370,000\ncommon shares (the \"Shares\") at a deemed price of $0.50 per Share in\nsettlement of $185,000 of outstanding indebtedness (the \"Debt\").\n\nThe Debt was settled in accordance with Policy 4.3 and applicable provisions\nof Policy 4.4 of the TSX Venture Exchange (the \"TSXV\"). Upon issuance of the\nShares, the Debt has been fully satisfied and extinguished in its entirety,\nand no further amounts remain owing in respect of such obligations. No new\nconsideration was paid by the creditors in connection with the issuance of the\nShares.\n\nTo the extent that any of the creditors are insiders or non-arm's length\nparties of the Company, the Transaction constituted a related party\ntransaction under applicable securities laws and TSXV policies. Any such\nparticipation was completed in accordance with the requirements of the\npolicies of the TSXV, and applicable corporate and securities law\nrequirements, including any required disinterested approval, if applicable.\n\nThe Shares issued pursuant to the Transaction are subject to a statutory hold\nperiod expiring four months and one day from the date of issuance in\naccordance with applicable securities laws and TSXV policies. The Transaction\nremains subject to final acceptance by the TSXV.\n\nABOUT SEARCH MINERALS\n\nSearch Minerals is focused on finding and developing Critical Rare Earth\nElements (CREE) resources that include neodymium (Nd); praseodymium (Pr);\ndysprosium (Dy); and terbium (Tb), within the emerging Port Hope Simpson –\nSt. Lewis CREE District of southeastern Labrador. The Company controls a\ndistrict-scale land package spanning approximately 64 km long and 2 km wide\nwhich is road accessible, on tidewater, and located near three local\ncommunities.\n\nSearch Minerals has completed a positive Preliminary Economic Assessment for\nits FOXTROT and DEEP FOX deposits, demonstrating robust economics including a\npost-tax NPV(8) of C$1.31 billion and a post-tax IRR of 41.5%. In addition,\nSearch Minerals holds four priority exploration prospects currently under\nevaluation: FOX MEADOW, SILVER FOX, FOX RUN and AWESOME FOX, within a broader\nportfolio of 24 identified prospects, two of which are considered \"drill\nready.\"\n\nSearch Minerals has continued to optimize its patented Direct Extraction\nProcess technology with the generous support from the Department of Energy and\nMines, Government of Newfoundland and Labrador, and from the Atlantic Canada\nOpportunities Agency. The Company has completed two pilot plant operations and\nproduced highly purified mixed rare earth carbonate concentrate and mixed REO\nconcentrate for separation and refining.\n\nAll material information on the Company may be found on its website at\nwww.searchminerals.ca and on SEDAR+ at www.sedarplus.ca.\n\nFor further information about Search Minerals, please contact:\n\nJason Macintosh\nInterim CEO\nTelephone: 416-320-9296\nEmail: jason.macintosh@searchminerals.ca\n\nForward-Looking Statements\n\nStatements contained in this news release that are not historical facts are\n\"forward-looking information\" or \"forward-looking statements\" (collectively,\n\"Forward-Looking Information\") within the meaning of applicable Canadian\nsecurities legislation. In certain cases, Forward-Looking Information can be\nidentified by the use of words and phrases or variations of such words and\nphrases or statements such as \"anticipate\", \"expect\", \"plan\", \"likely\",\n\"believe\", \"intend\", \"forecast\", \"project\", \"estimate\", \"potential\", \"could\",\n\"may\", \"will\", \"would\" or \"should\". Forward-Looking Information in this news\nrelease is based on certain material assumptions and involve known and unknown\nrisks, uncertainties and other factors which may cause the actual results,\nperformance or achievements of Search Minerals to be materially different from\nany future results, performance or achievements expressed or implied by the\nForward-Looking Information. Such risks and other factors include those\nfactors discussed in Search Minerals' public filings. Although Search Minerals\nhas attempted to identify important factors that could affect Search Minerals\nand may cause actual actions, events or results to differ materially from\nthose described in Forward-Looking Information, there may be other factors\nthat cause actions, events or results not to be as anticipated, estimated or\nintended. There can be no assurance that Forward-Looking Information will\nprove to be accurate, as actual results and future events could differ\nmaterially from those anticipated in such statements. Accordingly, readers\nshould not place undue reliance on Forward-Looking Information. For further\ninformation on these and other risks and uncertainties that may affect the\nCompany's business, see the Company's Management's Discussion and Analysis\nfiled with certain Canadian securities regulators, which are available at\nwww.sedarplus.ca. Except as required by law, Search Minerals does not assume\nany obligation to release publicly any revisions to Forward-Looking\nInformation contained in this news release to reflect events or circumstances\nafter the date hereof or to reflect the occurrence of unanticipated events.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/297640","article_body_html":"","raw_payload":{"data":{"id":"nNFC1n8f7q","title":"Search Minerals Closes Shares for Debt Transaction","author":"Newsfile Corp","ticker":"SMY","created":"2026-05-15T21:01:16.490Z","tickers":["SMY"],"exchange":"","article_body":"St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - May 15, 2026) - Search\nMinerals Inc. (TSXV: SMY) (OTC Pink: SHCMF) (\"Search Minerals\" or the\n\"Company\") announces that, further to its news releases of February 20, 2026\nand May 6, 2026, it has completed its previously announced shares-for-debt\ntransaction (the \"Transaction\") pursuant to TSX Venture Exchange Policy 4.3\n– Shares for Debt.\n\nPursuant to the Transaction, the Company has issued an aggregate of 370,000\ncommon shares (the \"Shares\") at a deemed price of $0.50 per Share in\nsettlement of $185,000 of outstanding indebtedness (the \"Debt\").\n\nThe Debt was settled in accordance with Policy 4.3 and applicable provisions\nof Policy 4.4 of the TSX Venture Exchange (the \"TSXV\"). Upon issuance of the\nShares, the Debt has been fully satisfied and extinguished in its entirety,\nand no further amounts remain owing in respect of such obligations. No new\nconsideration was paid by the creditors in connection with the issuance of the\nShares.\n\nTo the extent that any of the creditors are insiders or non-arm's length\nparties of the Company, the Transaction constituted a related party\ntransaction under applicable securities laws and TSXV policies. Any such\nparticipation was completed in accordance with the requirements of the\npolicies of the TSXV, and applicable corporate and securities law\nrequirements, including any required disinterested approval, if applicable.\n\nThe Shares issued pursuant to the Transaction are subject to a statutory hold\nperiod expiring four months and one day from the date of issuance in\naccordance with applicable securities laws and TSXV policies. The Transaction\nremains subject to final acceptance by the TSXV.\n\nABOUT SEARCH MINERALS\n\nSearch Minerals is focused on finding and developing Critical Rare Earth\nElements (CREE) resources that include neodymium (Nd); praseodymium (Pr);\ndysprosium (Dy); and terbium (Tb), within the emerging Port Hope Simpson –\nSt. Lewis CREE District of southeastern Labrador. The Company controls a\ndistrict-scale land package spanning approximately 64 km long and 2 km wide\nwhich is road accessible, on tidewater, and located near three local\ncommunities.\n\nSearch Minerals has completed a positive Preliminary Economic Assessment for\nits FOXTROT and DEEP FOX deposits, demonstrating robust economics including a\npost-tax NPV(8) of C$1.31 billion and a post-tax IRR of 41.5%. In addition,\nSearch Minerals holds four priority exploration prospects currently under\nevaluation: FOX MEADOW, SILVER FOX, FOX RUN and AWESOME FOX, within a broader\nportfolio of 24 identified prospects, two of which are considered \"drill\nready.\"\n\nSearch Minerals has continued to optimize its patented Direct Extraction\nProcess technology with the generous support from the Department of Energy and\nMines, Government of Newfoundland and Labrador, and from the Atlantic Canada\nOpportunities Agency. The Company has completed two pilot plant operations and\nproduced highly purified mixed rare earth carbonate concentrate and mixed REO\nconcentrate for separation and refining.\n\nAll material information on the Company may be found on its website at\nwww.searchminerals.ca and on SEDAR+ at www.sedarplus.ca.\n\nFor further information about Search Minerals, please contact:\n\nJason Macintosh\nInterim CEO\nTelephone: 416-320-9296\nEmail: jason.macintosh@searchminerals.ca\n\nForward-Looking Statements\n\nStatements contained in this news release that are not historical facts are\n\"forward-looking information\" or \"forward-looking statements\" (collectively,\n\"Forward-Looking Information\") within the meaning of applicable Canadian\nsecurities legislation. In certain cases, Forward-Looking Information can be\nidentified by the use of words and phrases or variations of such words and\nphrases or statements such as \"anticipate\", \"expect\", \"plan\", \"likely\",\n\"believe\", \"intend\", \"forecast\", \"project\", \"estimate\", \"potential\", \"could\",\n\"may\", \"will\", \"would\" or \"should\". Forward-Looking Information in this news\nrelease is based on certain material assumptions and involve known and unknown\nrisks, uncertainties and other factors which may cause the actual results,\nperformance or achievements of Search Minerals to be materially different from\nany future results, performance or achievements expressed or implied by the\nForward-Looking Information. Such risks and other factors include those\nfactors discussed in Search Minerals' public filings. Although Search Minerals\nhas attempted to identify important factors that could affect Search Minerals\nand may cause actual actions, events or results to differ materially from\nthose described in Forward-Looking Information, there may be other factors\nthat cause actions, events or results not to be as anticipated, estimated or\nintended. There can be no assurance that Forward-Looking Information will\nprove to be accurate, as actual results and future events could differ\nmaterially from those anticipated in such statements. Accordingly, readers\nshould not place undue reliance on Forward-Looking Information. For further\ninformation on these and other risks and uncertainties that may affect the\nCompany's business, see the Company's Management's Discussion and Analysis\nfiled with certain Canadian securities regulators, which are available at\nwww.sedarplus.ca. Except as required by law, Search Minerals does not assume\nany obligation to release publicly any revisions to Forward-Looking\nInformation contained in this news release to reflect events or circumstances\nafter the date hereof or to reflect the occurrence of unanticipated events.\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that\nterm is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/297640"},"type":"article","timestamp":"2026-05-15T21:01:16.548523259Z","server_sent_at_ms":1778878876548},"received_at":"2026-05-15T21:01:16.613Z","source_url":"https://www.newsfilecorp.com/release/297640"},"analysis":{"id":"26449","press_release_id":"37005","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Interim CEO listed as contact, suggesting leadership instability","Shares issued to settle debt may involve related parties/insiders"],"eventType":"debt_offering","narrative":"Search Minerals completed a shares-for-debt transaction, issuing 370,000 common shares at a deemed price of $0.50 to settle $185,000 of outstanding indebtedness.\n\nThe debt has been fully extinguished, and the newly issued shares are subject to a statutory hold period of four months and one day.\n\nThe company highlighted its positive Preliminary Economic Assessment for the FOXTROT and DEEP FOX deposits, citing a post-tax NPV of C$1.31 billion and a 41.5% IRR.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine debt settlement via equity issuance; minor dilution to clear balance sheet liabilities."},"keyFigures":{"dealValueUsd":185000,"offeringPrice":0.5,"sharesOffered":370000,"customDimensions":{"debt_settled":185000,"irr_post_tax":"41.5%","npv_post_tax":"C$1.31 billion"}},"quotedText":"The Debt was settled in accordance with Policy 4.3 and applicable provisions of Policy 4.4 of the TSX Venture Exchange","namedEntities":{"people":[{"name":"Jason Macintosh","role":"Interim CEO"}],"products":["Direct Extraction Process","mixed rare earth carbonate concentrate","mixed REO concentrate"],"companies":[{"name":"Search Minerals Inc.","ticker":"SMY","relationship":"filer"},{"name":"TSX Venture Exchange","relationship":"regulator"},{"name":"Department of Energy and Mines, Government of Newfoundland and Labrador","relationship":"partner"},{"name":"Atlantic Canada Opportunities Agency","relationship":"partner"}],"dollarAmounts":[{"amount":"$0.50","context":"deemed price per share"},{"amount":"$185,000","context":"outstanding indebtedness settled"},{"amount":"C$1.31 billion","context":"post-tax NPV(8) of FOXTROT and DEEP FOX deposits"}]},"materialImpact":{"score":2,"reasoning":"The company settled $185,000 of outstanding debt by issuing 370,000 shares. This is a routine shares-for-debt transaction that eliminates a liability but results in minor dilution. The absolute dollar amount is small relative to the company's stated C$1.31B NPV, making it a low-impact operational housekeeping item."},"tickerRelevance":{"others":[],"primary":"SMY"},"globalImportance":15,"audienceRelevance":10,"eventTypeSecondary":["dilution"],"importanceComponents":{"tickerTier":"micro-cap","eventGravity":"routine_debt_settlement","sectorWeight":"low","householdBrandBoost":0,"marketCapAdjustment":"small"}},"event_type":"debt_offering","event_type_secondary":["dilution"],"sentiment":"neutral","material_impact_score":2,"narrative":"Search Minerals completed a shares-for-debt transaction, issuing 370,000 common shares at a deemed price of $0.50 to settle $185,000 of outstanding indebtedness.\n\nThe debt has been fully extinguished, and the newly issued shares are subject to a statutory hold period of four months and one day.\n\nThe company highlighted its positive Preliminary Economic Assessment for the FOXTROT and DEEP FOX deposits, citing a post-tax NPV of C$1.31 billion and a 41.5% IRR.","key_figures":{"dealValueUsd":185000,"offeringPrice":0.5,"sharesOffered":370000,"customDimensions":{"debt_settled":185000,"irr_post_tax":"41.5%","npv_post_tax":"C$1.31 billion"}},"named_entities":{"people":[{"name":"Jason Macintosh","role":"Interim CEO"}],"products":["Direct Extraction Process","mixed rare earth carbonate concentrate","mixed REO concentrate"],"companies":[{"name":"Search Minerals Inc.","ticker":"SMY","relationship":"filer"},{"name":"TSX Venture Exchange","relationship":"regulator"},{"name":"Department of Energy and Mines, Government of Newfoundland and Labrador","relationship":"partner"},{"name":"Atlantic Canada Opportunities Agency","relationship":"partner"}],"dollarAmounts":[{"amount":"$0.50","context":"deemed price per share"},{"amount":"$185,000","context":"outstanding indebtedness settled"},{"amount":"C$1.31 billion","context":"post-tax NPV(8) of FOXTROT and DEEP FOX deposits"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-15T21:03:06.478Z","global_importance":15,"audience_relevance":10,"importance_components":{"tickerTier":"micro-cap","eventGravity":"routine_debt_settlement","sectorWeight":"low","householdBrandBoost":0,"marketCapAdjustment":"small"}},"durationMs":34245,"modelName":"george-droid-qwen-72b"}}